The main goal of Paks II. Nuclear Power Plant Private Limited Company (Paks II. Ltd.) is the prepatory work of the construction of the new nuclear power plant units of Paks, the acquisition of the necessary licenses, the realization of the investment, then the operation of the units.
The Paks II. project contributes to the growth of national economy and the continuation of the safe, climate friendly and affordable supply of electricity of Hungary.
One third of the consumed electricity and a half of the domestically produced electricity is provided by the currently operating nuclear power plant. However, its operating time will expire between 2032-2037. The two new Paks units are meant to replace the current power plant which will be decommissioned later. With the new units, the security of electricity supply in Hungary will increase, as the sufficient quantity of electricity will be provided from within the border, thus reducing our country’s import dependence.
Nuclear energy is an important part in the fight against climate change, as the operation of nuclear power plants does not involve carbon-dioxide emissions. If we would produce the same amount of electricity with coal-fired power plants, as the two new NPP units will generate, it would burden the atmosphere with 17 million tons of CO2 annually.
However, the construction of the two new units does not exclude the renewables (solar, wind, etc.) to contribute to the domestic electricity production. There are several examples in Western Europe and overseas where nuclear energy and renewables operate beside each other, but Paks is also a perfect example as not only did the preparatory works begin at the border of the town, but it is also the site of one of the biggest solar plants of Hungary.
The construction of the new nuclear power plant units is the major industrial investment of the century in Hungary. During the construction period, it will provide work for about ten thousand people at peak hours, and an additional 10-15 thousand jobs can be created through related tasks across the country.
The goal of Paks II. Ltd. is to build a power plant of high technical standard, operation safety, meeting the strictest requirements, which will contribute to the climate friendly electricity production for decades, and giving a boost to the improvement of the Hungarian industry, commerce and education.